Rubique said in a statement that it will use the fresh capital to strengthen its technological and analytics capabilities. It also plans to expand its portfolio of credit products to boost its reach.

The company said it has been unit economics positive at the transactional level and will be aiming to break even next year.

“Apart from this round, we are also in the final stages of closing another tranche of funding, to be led by couple of marquee investors,” said Rubique co-founder and chief executive officer Manav Jeet.

Rubique is a credit facilitator for small and medium-sized enterprises (SMEs) and individuals. In the SME segment, it focuses on loans for commercial vehicles and construction equipment. The retail segment includes home loans, personal loans and two-wheeler loans, among others. The company ventured into general insurance.

Run by Rubique Pvt. Ltd, the startup was founded by Jeet in February 2015.

Headquartered in Tokyo, Recruit Group creates and provides platforms that connect companies and consumers. It offers a range of services in areas including human resources, education, housing and real estate, bridal, travel, automobiles, dining and beauty. The group has more than 45,000 employees and operates in more than 60 countries.

Emery Capital is an early and growth-stage venture capital firm which typically invests between $500,000 and $1.5 million. It primarily focus on four sectors - fintech, 3D (including augmented reality and virtual realty), Internet of Things (IoT) and digital marketing.

Deals in the space

A host of fintech startups have raised funding over the past few weeks.